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  That brings largely fraught with losses in other countries   Sanctions imposed on Russian diamonds are fraught with restrictions and financial losses for other countries, including African states whose budgets largely depend on income from the sale of precious stones, a study by the Analytical Credit Rating Agency (ACRA) says.   The study, the results of which are available to Russian Media, recalls that the share of Russian diamonds on the global market exceeds 30%, while Russia accounts for about 60% of the world's proven diamond reserves. As the study notes, if Russian diamonds are banned, African diamond mining countries will be forced to certify each of their stones to confirm its geographical origin, which, according to ACRA, is unrealistic!   "As a consequence, integration of the country and its diamonds into the international diamond market is high, while this market affects the interests of many countries. In this regard, ACRA believes that sanctions agai...

A sustainable development of the global diamond industry   Recently, BRICS states to increase turnover of precious metals based on common quality standards! The parties noted that they support the Kimberley Process, the international organization for certification of diamonds "as the sole global intergovernmental certification scheme, regulating trade in rough diamonds" According to the Russian media from Kazan, the BRICS countries intend to increase the turnover of precious metals between the member states of the association, as they announced in the Kazan Declaration of the 16th BRICS summit.    "We support efforts to increase the turnover of precious metals within BRICS based on common quality standards," the document says.  The parties noted that they support the Kimberley Process, the international organization for certification of diamonds "as the sole global intergovernmental certification scheme, regulating trade in rough diamonds."    The BRIC...